 Does anyone know if a hospital will discount a bill or let you may monthly payment for an emergency room visit |
bill from hospital is 4,500 and the statment says that there are other related bills coming.
we have no insurance?... |
|
 How long does it take for car insurance to start? Do all policies start as soon as you sign up? |
| A friend of mine was in an acciedent but their insurance doesnt start til December. Is this possible? Do car insurance companies actually allow a driver to be uninsured for a month before starting ... |
|
 Can I get my insurance company to pay for my tummy tuck as a medical necessity? |
| I have lost over 140 pounds and have a lot of excess skin on my belly. It is a problem when I run, as it can hang.... |
|
 Which of my 4 medical conditions cause me to have high premiums? |
I do not have health insurance available at my place of employment and have to pay $470 per month for a high deductible, bare-bones policy.
I am a 48-year-old female living with depression, S... |
|
 Why is it that all americans can not have health insurance? |
| http://www.msnbc.msn.com I was reading this and thought I should ask this question. I know it's a big money maker with the HMO's. But why is this not being changed?... |
|
 I am 25 years old, and I work as an insurance sales rep... Is my pay to low? Am I being cheated? |
| I only get paid $9.00/hr, I am supposed to work 40 hours a week, but due to being a single mother, and having 2 sick kids, I average about 30-35..... I used up all my paid sick days in the 1st month ... |
|
 Having a baby with no medical insurance? |
About a month and a half ago I got a new job as a temp-hire. It can take 3 months to 2 years to get hired on. Last week I found out that I'm pregnant; I have no medical benefits at all.
... |
|
 What should I look for or be wary of when choosing life insurance policies? |
| What is this about critical illness? I am in my 20s and no significant medical history, but there is a family history of heart disease and late onset diabetes.... |
|
 I have a medical bill I don't think I should pay. |
| Almost a year ago I had a medical procedure which required a biopsy. The biopsied tissue was sent to the pathology lab. Without my knowledge or the knowledge of the doctor who took the biopsy, the ... |
|
 Why is health insurance so incredibly expensive? |
I am 32 years old with high blood pressure and obesity. I just started a new job (a small employer- only 3-4 employees), and we all desperately need health insurance.
Kaiser wants to ... |
|
| Are insurance policies on loans and credit cards todays biggest financial scam? |
| I just realised the insurance I pay on one of my credit cards actually covers them all, that the loan protection is a ridiculously over-inflated one, lumped onto my loan so that I pay more interest, ... |
|
 Why is there no animal/pet insurance? |
Sending a pet to a veterinarian can cost lots of money and there is no insurance for pets. My dog had surgery done and it cost about $2000!! Plus he needed some meds too.. another $100/month.
D... |
|
| Who's a good Life insurance company? |
| I'm looking for Life Insurance Company that doesn't require health exam for my husband. He's a tabacco user "Copenhagen Long-cut but a non-smoker". We are looking to get a ... |
|
|  |
Larry W | What is the best type of insurance to buy term or Variable Universal Life? Why? |
|
 |
 
Doing the Right Thing
|
Term is the cheapest life insurance out there that can provide lots of coverage. It gives you the flexibility of investing for your own. Most people usually invest in mutual funds or setup a IRA account. That way, when you die before the term expires, your beneficiary will get insurance proceeds and your investments.
With Variable Universal Life, you are paying for insurance and investments. Therefore, this policy is more expensive than term. While premiums maybe flexible, your coverage amount will fluctuate if you do not pay your premiums. You have limited number of companies you can invest in. When you die, your beneficiary will only get the face amount while all your investments in the policy are kept by the insurance company.
Which one appeals to you the most? |
|
Financial Wizard
 |
I havent got much to add to above answer. But term insurance is the low cost product which helps u in insuring yourself well. Premiums for other products are comparatively high and thus buying big insurance can be difficult.
Also the insurance shouldnt be confused with investments. Power of compounding can help ur investments grow far better than the insurance fund. So it is always advisable to insure urself fully and invest the surplus properly |
|
devildog29
 |
Listen to insuranceguytx and ignore everyone else. You can not make a blanket recommendation on insurance. No product is right for everyone all the time. It's like saying a Ford f 150 is what every one should own. It just doesn't make sense. |
|
*♪♡SnowShoer1♡♪*
 |
Term Insurance may be the way to go IF the following apply:
1 - you are older & just want the coverage, AND
2 - you do NOT need to withdraw money from your policy.
3 - If you only need coverage for a specific time.
4 - If you are buying the coverage for a Business Partner.
Universal Life may be the way to go if the following applies:
1 - You are younger
2 - You may need to pull money from your Life Insurance policy later on.
3 - If you are buying this coverage for your child.
((I think that - sometimes, some policies will reach a point where they policy pays for itself, after you make a number of payments)) |
|
Joe
|
I say buy term life and invest the money you save. The money you make on the investment will most likely beat variable universal life insurance as an investment. Variable universal life usually has high hidden fees that result in a lower return than investing on your own. See these links for more information. |
|
mkulda
 |
You didn't give enough information here to made a good answer.
It really depends on your situation.
If you are a good investor and only really want to make sure your family has enough to pay debts, mortgage, college expenses, then buy terms and use the difference to invest aggressively. Then, at some point, when you have paid off the house and don't have college to pay for, drop the coverage and invest all of what you would have paid as premiums.
If you are not a good investor and want to use the insurance as a nest egg or inheritance and don't want the hassle of always worrying about the investment, then buy a whole life policy.
Personally, I buy a lot of term and invest the difference. |
|
Black Fedora
|
term lowest cost for highest coverage. Whole, Variable, Universal coverages are investment products with an insurance component and very high management fees. |
|
insuranceguytx
|
Bicycles are perfectly good ways of getting across town when you need to and they are really cheap.
Term versus VUL is a more complicated question than can be answered on this forum. Both are tools to accomplish a task. Used correctly, they work well. Used incorrectly, they can cause more trouble. Term insurance has its place IF you know that your need for insurance coverage will disappear. Will your debts be paid off when the term expires? Will people in your life depend on you as a source of income?
As to which is better, you would have to post ALL of your personal financial information here to make that assessment (age, health, income, assets, debts etc). Since I doubt if you want to do that, go talk to a licensed insurance agent or financial planner. Expect to pay a fee. Search for one that listens to your goals, needs and wants. That professional should ask about your financial information. If he/she does not, find someone else. |
|
pjflyr
|
What do you want to accomplish?. Money for you, money for your heirs? How much can you afford to put away? How big a policy?
A licensed agent can help guide you.
Term is cheapest, but you can never use the money yourself. UL costs more, but there are advantages like living benefits. Check it out. |
|
ernie_fergler
|
Term is the best, because it is insurance. Anything else is an investment, and others are making more than you from it. Buy term insurance and invest in no-load mutual funds. |
|
barry_bonds73
|
Where do all these "Buy Term and Invest the Difference" people come from? Do they not realize that over time a tax-deferred investment vehicle will by far outperform any taxable investment?!
You can never regain the cost of a term life insurance policy. Its just like renting. Don't get me wrong, term serves a useful purpose if your insurance needs are temporary. But if you have a long-term perspective, permanent life insurance is far better than "Buy Term Invest the Difference."
Haven't you people ever heard of Estate Taxes?! |
|
Sugarbear
|
Which insurance is better for you depends on what kind of a saver you are. Most of the answerers above have been clamoring with the "buy term invest the difference" and it's not a bad thing... assuming you are very good at saving. Let's face it, America is not very good at saving money. A Variable Life Insurance policy is tantamount to a Whole Life policy with a built in IRA. It's true, it may have higher managing fees than other financial institutions. However, for those of us who are terrible savers, it's not a bad trade off. You send in a check for your premium and part of it goes into a savings for you. This "cash value" that you accumulate can be used to continue payments on your policy further down the road, or you can borrow against it. I say "borrow" because it doesn't actually pay you like an IRA. The amount you "borrow" is deducted from the policy face value upon the maturity of the policy (when you pass on) complete with interest factored in. What many people do is "surrender" the policy at the age of retirement and get their "cash value" as a form of a retirement nest egg. Hence, the "retirement savings" angle that many Life Insurance Agents tell you about.
One very good point that was made was about Estate Taxes. Let's say you get really successful and you build up a networth over $2mil. Anything over $2mil is taxed at 42% when you die. So let's say you have $4mil when you die. Uncle Sam gets to take $840,000. So that means your family (wife and kids) would have to pony up $840,000 in taxes. If most of your net worth is tied up in real estate or stocks or whatnot, they would have to sell it all to come up with the cash to pay the taxes. So what many people do is they get whole life insurance that covers them until they pass away (Term only covers for a specific period of time). The amount they insure themselves for is usually the amount that would cover the estate taxes and then some. So when the pass away, voila! Instant cash to pay taxes.
So in short:
1. Buy Term if you are great at saving and don't have a networth that's over $2mil.
2. Buy Whole (or some variant of it like Universal or Variable) if you are terrible at saving and want some equity down the road that you can surrender the policy for, or borrow against.
3. Buy Whole (or some variant) if you have a networth over $2mil.
I hope that clears up a few things. Good luck! |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
10 | 32 minutes(s) ago
| | | |
12 | 35 minutes(s) ago
| | | |
12 | 54 minutes(s) ago
| | | |
12 | 3 hour(s) ago
| | | |
12 | 4 hour(s) ago
| | | |
12 | 6 hour(s) ago
| | | |
12 | 10 hour(s) ago
| | | |
10 | 11 hour(s) ago
| | | |
12 | 1 day(s) ago
| | | |
12 | 4 day(s) ago
| |
|
Homepage 
Financial
Forum 
Insurance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
